Cynosure Group LLC Reduces Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Cynosure Group LLC trimmed its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,048 shares of the biopharmaceutical company’s stock after selling 3,688 shares during the quarter. Cynosure Group LLC’s holdings in Catalyst Pharmaceuticals were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPRX. Bryce Point Capital LLC bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter valued at about $1,134,000. Meeder Asset Management Inc. increased its holdings in Catalyst Pharmaceuticals by 163.1% during the 4th quarter. Meeder Asset Management Inc. now owns 11,833 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 7,336 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Catalyst Pharmaceuticals by 76.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,349 shares of the biopharmaceutical company’s stock worth $404,000 after purchasing an additional 8,367 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Catalyst Pharmaceuticals by 131.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock valued at $14,570,000 after purchasing an additional 396,506 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Catalyst Pharmaceuticals during the 4th quarter valued at $494,000. 79.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the transaction, the insider now directly owns 68,873 shares of the company’s stock, valued at $1,521,404.57. The trade was a 39.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the sale, the insider now directly owns 188,564 shares of the company’s stock, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CPRX. Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Bank of America reissued a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens reaffirmed an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Finally, StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $32.29.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX opened at $24.11 on Friday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $26.16. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.31 and a beta of 0.79. The firm has a 50 day moving average price of $22.77 and a 200-day moving average price of $21.92.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.